Market Wrap - Stock pick — Naspers
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Graeme Franck from PSG Wealth Sandton Grayston chose Naspers as his stock pick of the day.
"It's going to be extremely boring tonight and I'm just going to go for Naspers, for the very simple reason that it's trading on a 40% plus discounts to the underlying Tencent. We have seen a wobble in tech shares last week and notwithstanding that Naspers' as a business is looking okay. The one thing that we remember is management is still under significant pressure to reduce that discount."
"It's going to be extremely boring tonight and I'm just going to go for Naspers, for the very simple reason that it's trading on a 40% plus discounts to the underlying Tencent. We have seen a wobble in tech shares last week and notwithstanding that Naspers' as a business is looking okay. The one thing that we remember is management is still under significant pressure to reduce that discount."
